Bitcoin News Today: BTC Slips to $63,040 as Traders Brace for a Choppy August

Last Updated: August 1, 2026

Bitcoin is trading at $63,039.85 as of August 1, 2026, down 1.23% over the past 24 hours and down 1.34% over the past week, pulling back as July closes out as one of Bitcoin’s best months in over a year, even as traders position for a more volatile August ahead.

Key Takeaways

• Bitcoin trades at $63,039.85, down 1.23% today and down 1.34% over the past week
• July closed as one of Bitcoin’s strongest months in over a year, with the broader CoinDesk 20 index on track for its biggest monthly gain since July 2025
• Options traders are increasingly buying downside protection against a possible drop toward $60,000, a sign of growing caution heading into August
• The broader DeFi sector fell roughly 3% today, with tokens including Aave, Lido DAO, and Lighter among the sharpest decliners
• Analysts cite rate-hike fears and upcoming US jobs data as the key catalysts likely to drive a “choppy” August for Bitcoin and broader crypto

Market Overview

Metric	Value
Price	$63,039.85
1h Change	+0.09%
24h Change	-1.23%
7d Change	-1.34%
Market Cap	$1.26T
24h Volume	$23.94B
Circulating Supply	20.06M BTC

Bitcoin Price Today

BTC is pulling back to start August after closing out July with one of its strongest monthly performances in over a year. Analysts note that Bitcoin has shrugged off a string of negative headlines throughout July, but caution is building heading into a month historically associated with thinner liquidity and choppier trading. Some analysts describe the recent “forced-selling” pressure that weighed on the market in prior weeks as largely exhausted, though buyer demand also remains limited for now.

Support and Resistance

Level	Price
Resistance 2	$65,000
Resistance 1	$64,000
Current Price	$63,040
Support 1	$61,500
Support 2	$60,000

Bitcoin ETF News Today

Options market positioning is a key signal to watch heading into August: traders have been increasingly buying downside protection against a potential drop toward $60,000, suggesting institutional hedging activity is picking up even as spot demand remains muted. This kind of protective positioning doesn’t necessarily predict a decline, but it does reflect genuine uncertainty about Bitcoin’s near-term direction after July’s strong close.

Why Is Bitcoin Down Today?

Today’s pullback reflects a mix of profit-taking after July’s strong performance and broader caution ahead of a historically choppier August. The DeFi sector’s sharper roughly 3% decline today, led by tokens like Aave and Lido DAO, suggests risk appetite is cooling more broadly across crypto, not just in Bitcoin specifically. Upcoming US jobs data and lingering rate-hike concerns are cited by analysts as the key catalysts likely to shape sentiment over the coming weeks.

What This Means for the Days Ahead

With July’s forced-selling pressure largely exhausted according to some analysts, the path forward likely depends on whether fresh buyer demand emerges to offset the current cautious positioning. Upcoming US jobs data is the next major macro catalyst on the calendar, with the outcome likely to shape whether August lives up to its “choppy” reputation or Bitcoin can build on July’s gains.

For broader market context, see crypto market today and today’s top crypto headlines. See how Ethereum and XRP are trading today, and check Zcash news today and HBAR news today for coverage of the rest of the market. For the underlying drivers behind days like this, see why is crypto down today.